Surging gold prices have cast a shadow over festive jewellery sales, traditionally a high-performing period for retailers during Akshaya Tritiya. However, Titan is steering through this uncertainty with a clear strategy: focus on value-led growth, not volume.
“With so many global uncertainties, gold has turned into a safe haven. But with prices spiraling, it has put pressure on consumer sentiments,” said Ajoy Chawla, CEO – Jewellery Division, Titan Company.
Consumers are caught between festive urgency and price anxiety. They want to buy, but many are asking, ‘Will prices go up or correct later?’ That uncertainty is real. We still expect double-digit growth, but largely driven by higher ticket sizes. Buyer growth may be marginal,” he added.
This Akshaya Tritiya, Titan has decided not to push gold sales but to solve for consumer concerns with multiple levers like launching four region-specific wedding collections, focusing on diamond and precious colour-stone bridal jewellery, and aggressive promotion of The Rivaah Aashirwad, its gold rate lock-in program
“In FY 24-25, our best gold rate offer has seen a 2.5x growth compared to the previous year,” Chawla said.
Despite muted walk-ins, investment-led purchases remain resilient. Gold coins have shown consistent traction, leading Titan to reduce making charges to as low as 3.5 per cent depending on weight.
Jewellery exchange continues to be a strong contributor—accounting for 33–35 per cent of sales while Titan is also pushing lightweight and 18K offerings to address affordability, especially in North India.
“Lightweight and 18K jewellery are now core to our portfolio. These formats work well in today’s price-sensitive market,” Chawla said.
While footfall growth remains modest, digital interest is accelerating. Titan has seen a sustained increase in jewellery-related searches on its platforms month-on-month, quarter-on-quarter, and year-on-year.
“Online discovery is rising even if store walk-ins are stable. It’s a shift in how customers explore and evaluate jewellery today,” Chawla asserted.
To capture younger, price-conscious buyers, Titan’s Mia brand will soon roll out 9-carat collections. The move aligns with a broader trend toward accessible, design-led daily wear jewellery.
Chawla remains cautiously optimistic about the near-term environment. “Gold is a commodity, it can’t stay elevated forever. We’re cautiously optimistic. India’s festive spirit is intact, even as global headwinds persist,” he concluded.
